Sunday, September 15, 2013

IT'S STILL THE ECONOMY, STUPID

This is the fifth anniversary of the collapse of Lehman Brothers, kind of the unofficial collapse of the economy. A time to look at where we've been and where we're going.

There are those, including the White House, who will say we're on a slow but continuing recovery. But Danny Schechter, who predicted the collapse two years before Lehman Brothers went belly-up, says in an interview for 1010 WINS, don't be so sure.

It's a false economic recovery, Schechter argues. The unemployment rate is deceptively low. The actual teenage unemployment rate is dangerously high. And we've exported our economic woes, he says, to the rest of the world. Which is, he says, is suffering even worse than are we.